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Key Features of this Script Dynamic Updating: The indicator scans the last X bars (default is 100) and identifies the extreme swing points. Native MT5 Object: It uses the OBJ_FIBO class, meaning you can still hover over the lines to see price levels or manually adjust them if needed. Customization: You can change the "Lookback Period" in the settings. A smaller period makes it more sensitive to short-term scalping, while a larger period (e.g., 200) is better for trend trading.
Combining Elliott Wave (EW) theory with Fibonacci levels creates a comprehensive framework for market structure. In this setup, we use a ZigZag engine to define the waves and then project Fibonacci Retracements and Extensions based on those specific wave coordinates.
Trading Strategy Guide By combining these two, you can look for specific "Rules of Thumb" in Elliott Wave theory: Wave 2 Correction: Usually retraces to the 50% or 61.8% Fibonacci level of Wave 1. Wave 3 Extension: Often reaches the
SMC + Volume Profile + FVG: Indicator Guide Overview SMC + Volume Profile + FVG is an all-in-one indicator for MetaTrader 5. It combines three popular price-action tools on a single chart: Smart Money Concepts (SMC): market structure (swings, BOS, CHoCH) and Order Blocks Fair Value Gaps (FVG): price imbalances left behind by fast moves Volume Profile: where the most trading happened, shown as POC, Value Area High and Value Area Low Everything is drawn automatically. You can turn each part on or